Introduction to Entrepreneurship MBAX 6100 Entrepreneurship & Small Business Management Frank Moyes Leeds College of Business University of Colorado Boulder,

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Presentation on theme: "Introduction to Entrepreneurship MBAX 6100 Entrepreneurship & Small Business Management Frank Moyes Leeds College of Business University of Colorado Boulder,"— Presentation transcript:

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Introduction to Entrepreneurship MBAX 6100 Entrepreneurship & Small Business Management Frank Moyes Leeds College of Business University of Colorado Boulder, Colorado

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Introduction to Entrepreneurship Objectives of the Course  Learn how to recognize and evaluate business opportunities  Understand the issues faced by entrepreneurs who want to start their own business.  Acquire skills and tools required to start a business.   Determine your own potential to be an entrepreneur

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Introduction to Entrepreneurship Historical Definition French term: people who provide men and materials to feudal lords.

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Introduction to Entrepreneurship Timmons's Definition “Entrepreneurship is creating and building something of value from practically nothing. That is, entrepreneurship is the process of creating or seizing an opportunity and pursuing it, regardless of resources presently controlled.” “Entrepreneurship is creating and building something of value from practically nothing. That is, entrepreneurship is the process of creating or seizing an opportunity and pursuing it, regardless of resources presently controlled.” Jeffrey Timmons

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Introduction to Entrepreneurship Timmons's Definition “Entrepreneurship is creating and building something of value from practically nothing. That is, entrepreneurship is the process of creating or seizing an opportunity and pursuing it,regardless of resources presently controlled.” “Entrepreneurship is creating and building something of value from practically nothing. That is, entrepreneurship is the process of creating or seizing an opportunity and pursuing it,regardless of resources presently controlled.” Jeffrey Timmons

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Introduction to Entrepreneurship Economist’s Definition  “The entrepreneur is the innovator who implements change within markets through the carrying out of new combinations.” Schumpeter(1934)  Later he calls it “creative destruction”.

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Introduction to Entrepreneurship Poetic Definition “Entrepreneurship is a state on mind, an artful, insightful, and innovative mentality, not simply ‘business administration’; it is a way of perceiving and exploiting opportunities wherever they may be found.” “Entrepreneurship is a state on mind, an artful, insightful, and innovative mentality, not simply ‘business administration’; it is a way of perceiving and exploiting opportunities wherever they may be found.” Unknown Source

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Introduction to Entrepreneurship Poetic Definition “Entrepreneurship is a state on mind, an artful, insightful, and innovative mentality, not simply ‘business administration’; it is a way of perceiving and exploiting opportunities wherever they may be found.” “Entrepreneurship is a state on mind, an artful, insightful, and innovative mentality, not simply ‘business administration’; it is a way of perceiving and exploiting opportunities wherever they may be found.” Unknown Source

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Introduction to Entrepreneurship Who Are Entrepreneurs? “ Some are eccentrics; some painfully correct nonconformists; some are fat, some are lean; some are warriors, some relaxed; some drink quite heavily, others abstain; some have great charm or warmth; some have no more personality than a frozen mackerel.” “ Some are eccentrics; some painfully correct nonconformists; some are fat, some are lean; some are warriors, some relaxed; some drink quite heavily, others abstain; some have great charm or warmth; some have no more personality than a frozen mackerel.” Peter Drucker

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Introduction to Entrepreneurship Who Are Entrepreneurs? “Entrepreneurs are societies rejects, instead of becoming hobos, criminals or professors, the start their own business.” Thereau “Entrepreneurs are societies rejects, instead of becoming hobos, criminals or professors, the start their own business.” Thereau

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Introduction to Entrepreneurship How Does Start-up Process Really Work?